NYC Nannies Fetching Six-Figure Salaries, Plus Bonus And Allowance

Chasing after a screaming toddler may seem like a less than ideal way to spend your day, but imagine being paid a six-figure salary to cater to a two-year-old’s every whim.

Many of New York City’s most sought-after nannies can fetch a salary of about $180,000 per year, plus a bonus and an allowance, to pay for rent in an expensive apartment, according to The New York Times. That's because there are so few experienced nannies willing to forgo other plans to be available at all times to take care of New York's wealthiest children that they can command a high price.

If the economic recovery becomes more robust, the price of a good nanny may only go up. The booming economy of the late 1990s was a boon to nannies and other household workers, who could suddenly find themselves even richer clients, according to a 1998 NYT report. With extremely wealthy families promising potential nannies perks like a retirement plan and access to a BMW, well-to-do, but not super-rich households were often priced out.

Another factor complicating the nanny market: taxes. Many nannies in middle- and upper-middle class enclaves like Park Slope, Brooklyn are paid under the table so they can avoid taxes on their wages. This can make it difficult for parents insisting on operating above-board to compete salary-wise and still stick to their budget, according to CNBC.

And the number of families with the ability to pay great nannies top dollar -- on or off the table -- may only be growing. America added 200,000 millionaires last year, according to report from the Spectrum Group cited by the Wall Street Journal. Still, the number of millionaires is well below pre-crisis levels.

But America's super-wealthy may pale in comparison to their counterparts around the world when it comes to paying someone to take care of their kids. A British staffing agency said that one of their Russian clients used a $200,000 salary offer to poach a nanny from another family, according to an August report from the Times of London. That’s more than double London’s typical salary for a nanny of $75,000.

Comments

[TRD2]

04:37 AM on 04/02/2012

It is easy to laugh at the absurdity of a six figure nanny. But the fact is many middle class families (especially young families with parents still at the beginning of their careers) can not afford the cost of an experienced nanny with excellent references.

Many parents are faced with a difficult choice. Should they place their infant in a large daycare center? Or hire a less experienced (but more affordable) nanny or au pair? In 2008 NannyShare Connection (nannyshareconnection.com) was created to give parents a third option: hire an experienced nanny with excellent references and share the cost with another family in the neighborhood. The nanny cares for the children of the two families and the families share the cost (typically $8-11/hr). Children enjoy the company of another child and parents have more flexibility than they would with a daycare center, allowing them to leave early or work late when needed.

For more information: http://nannyshareconnection.com

[lynsonb]

03:29 PM on 03/22/2012

Where do I sign up????

[janinepnz]

08:36 AM on 03/22/2012

I am an experienced nanny from Christchurch, New Zealand. I came across this article when I was googling nanny agencies as I am wanting to nanny in the US. I was wondering if anyone could lead me in the right direction as to what are the best agencies. Many thanks.

[mary p]

07:59 AM on 03/22/2012

The American Dream living in the realm of unreality.

[deerinmw]

05:59 AM on 03/22/2012

Another HuffPost story running now details the horror and catastrophic injuries of some of America's finest - our military men. What is wrong with our world where nannies make six figures to chase a child or two, and those (and their families) who preserve our freedom live on foodstamps, welfare and then face the potential of horrific injuries that they will never recover from? The same with all those "sports heroes" making millions and millions - as a nation, we can and should do better than this!

[Natassha Halverson]

07:01 AM on 03/22/2012

Sometimes people like to read about something not tragic and too close to our reality. Just sometimes people want to read a story about something so outrageous we cant imagine having to actually deal with this ourselves, and we don't have to. It's kind of a relief.

[Kibblet]

08:06 AM on 03/22/2012

How about this instead -- maybe we need to look into the pathetic salaries we otherwise pay daycare workers and teachers and home healthcare workers...that it should be a higher salary, that the rule should be HIGH salaries not low ones for those that take care of our most vulnerable members of society. (Instead of complaining how we don't pay our killers enough.) Oh, oh, I know! SOLDIERS ARE MOSTLY MALE AND DESERVE MORE. Women should be GLAD to take care of the young, the infirm, and the elderly, after all, nurturing is in their nature, so lets pay them less than minimum wage.

[Corie Lemmon]

03:39 AM on 03/22/2012

Well, at least those rich people probably don't have to worry at all about the care their child receives...On the other hand, those who are middle class and lower sometimes do. I choose to stay at home with my children, due to the over abundance of child molesters out there. My friend's child was raped at the age of 5 while at a babysitter's house, and that scared me into NOT wanting my kids in daycare....The world is scary full of scary people, and these nannies are highly qualified and probably get extensive background checks before being hired....The rich are lucky they can afford such great care

[Kelly Cloud]

08:29 AM on 03/22/2012

I stay home too. I'm the best I can give her.

[msveemac]

03:07 AM on 03/22/2012

Hmm...looks like I found my new profession.
Depending on what family you're working for, the perks can be pretty nice.

[Sampaguita Casumpang]

02:19 AM on 03/22/2012

whatever its nice to have a job and earn like that......

[Nette Weber]

01:47 AM on 03/22/2012

If you really want to learn more about professional/career nannies, a great place to look is The International Nanny Association, www.Nanny.org. I used to be on their board. The type of nanny who commands this type of wage and benefits is not a college nanny working her way through school. These are educated, well-rounded, refined women and men who act as everything from child wranglers to personal assistants, to language teachers, to you name it, on any given day. The earn each penny of that wage/benefits.

[Mystique Gigadet]

01:45 AM on 03/22/2012

I once worked as a nanny in NYC for a very, very rich family. I was paid $1,200 for a 5 day/week job in the early 2000's Of course, it comes with the perks; transpo allowance and free meals too. But the money I was paid was equal to the amount "yelling" and "scolding" from very picky, meticulous, arrogant, insensitive parents. Well, I wasn't a top-notch nanny but I had great resume of attending to kids. But even then, it is usual and normal that the more you are paid, the more stress you will encounter , not only in a nanny job, but in any kind of job.

[interject]

12:37 AM on 03/22/2012

A friend of mine was a nanny in California and paid over a hundred K a year, plus had use of a car and her own two room suite with bathroom. And the kids were in school most of the time. The only reason she left is because the kids got too old to need a nanny. Greatest job in teh world for young unmarried girl or boy.

[bloodwinek]

12:16 AM on 03/22/2012

Where do I apply!?!?

[FollowJesus]

11:17 PM on 03/21/2012

Raising children is hard work if you do it right. Finding a good childcare provider is priceless.

[oilfield]

11:09 PM on 03/21/2012

as with a lot of american workers folks with skills get paid well.

[Kibblet]

08:08 AM on 03/22/2012

Unfortunately, too many think that taking care of children (or others) is not a skill, and we do not pay them well for the most part. I am glad that these families can see what value there is in excellent child care. Pity we as a society don't feel that way and tend to exploit those that work with children, the disabled, the elderly. Could it be the gender of those care providers?

[oilfield]

11:20 AM on 03/22/2012

think it is more of a supply side problem....lots of women get in to it so they have a schedule similar to their kids...

[happyone6470]

11:06 PM on 03/21/2012

A qualified nanny with excellent references can make six figures in many states . Rich people pay well for someone to take care of their kids . More young women are applying at nanny schools because of the money .